WASHINGTON (dpa-AFX) - Gold futures settled lower on Wednesday as the dollar recovered from recent losses as investors awaited some crucial U.S. economic data including readings on inflation.
The dollar index climbed to 101.15, gaining about 0.6%, recovering well from recent losses.
Gold futures for August ended down by $15.00 or about 0.6% at $2,501.00 an ounce.
Silver futures for August settled lower by $0.775 or about 2.6% at $29.176 an ounce, while Copper futures for September slipped to $4.1380 per pound, losing $0.0995.
Commerce Department's report on personal income and spending for July on Friday, which includes readings on inflation said to be preferred by the Federal Reserve.
Economists currently expect the report to show the annual rate of consumer price growth was unchanged at 2.5%.
The annual rate of core consumer price is expected to tick up to 2.7% in July from 2.6% in June.
With inflation nearly defeated and the job market cooling, the inflation reading could impact expectations for how quickly the Fed cuts rates.
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